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Amgen (AMGN) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Amgen (AMGN - Free Report) closed at $273.99, marking a +0.68% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.46%. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 0.7%.
Heading into today, shares of the world's largest biotech drugmaker had gained 2.04% over the past month, lagging the Medical sector's gain of 4.8% and the S&P 500's gain of 4.85% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company is predicted to post an EPS of $4.67, indicating a 14.18% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $8.07 billion, indicating a 18.01% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $18.62 per share and a revenue of $28.12 billion, demonstrating changes of +5.26% and +6.83%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.13% lower. Amgen is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 14.61. This denotes a discount relative to the industry's average Forward P/E of 16.2.
Meanwhile, AMGN's PEG ratio is currently 2.6. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.88 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 60, finds itself in the top 24% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Amgen (AMGN) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Amgen (AMGN - Free Report) closed at $273.99, marking a +0.68% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.46%. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 0.7%.
Heading into today, shares of the world's largest biotech drugmaker had gained 2.04% over the past month, lagging the Medical sector's gain of 4.8% and the S&P 500's gain of 4.85% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company is predicted to post an EPS of $4.67, indicating a 14.18% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $8.07 billion, indicating a 18.01% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $18.62 per share and a revenue of $28.12 billion, demonstrating changes of +5.26% and +6.83%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.13% lower. Amgen is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 14.61. This denotes a discount relative to the industry's average Forward P/E of 16.2.
Meanwhile, AMGN's PEG ratio is currently 2.6. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.88 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 60, finds itself in the top 24% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.